Costing Archives - Page 4 of 116 - MCQ and Quiz for Exams

31. Economic Batch Quantity depends on . . . . . . . . and . . . . . . . . costs.

material, labour

set-up costs, carrying

transportation, carrying

warehousing, labour

Detailed SolutionEconomic Batch Quantity depends on . . . . . . . . and . . . . . . . . costs.

32. An increase in fixed costs will result, in which of the following?

A decrease in the contribution sales ratio

A decrease in the contribution per point

An increase in the break-even point sales level

An increase in the margin of safety

Detailed SolutionAn increase in fixed costs will result, in which of the following?

33. Packing cost is ________.

production cost

selling cost

administration cost

distribution cost

Detailed SolutionPacking cost is ________.

34. Success of cost reduction initiatives are evaluated by accurate

cyclical factors

indexed technique

price estimation

cost estimation

Detailed SolutionSuccess of cost reduction initiatives are evaluated by accurate

35. When the completion stage of a contract is less than $$\frac{1}{4},$$ the total expenditure on the contract is transferred to . . . . . . . . account.

Work-in-progress

Profit and loss account

Miscellaneous account

None of these

Detailed SolutionWhen the completion stage of a contract is less than $$\frac{1}{4},$$ the total expenditure on the contract is transferred to . . . . . . . . account.

36. Match the following. List-I (Variances) List-II (Formulae) a. MCV 1. SP (RSQ – AQ) b. MPV 2. SP (SQ – AQ) c. MUV 3. AQ consumed (SP – AP) d. MMV 4. SC – AC

a-4, b-3, c-2, d-1

a-2, b-1, c-4, d-3

a-4, b-1, c-2, d-3

a-3, b-4, c-2, d-1

Detailed SolutionMatch the following. List-I (Variances) List-II (Formulae) a. MCV 1. SP (RSQ – AQ) b. MPV 2. SP (SQ – AQ) c. MUV 3. AQ consumed (SP – AP) d. MMV 4. SC – AC

37. Product which requires large amount of resources, but incur low per unit cost is classified as

product under costing

product over costing

expected under cost

expected over cost

Detailed SolutionProduct which requires large amount of resources, but incur low per unit cost is classified as

38. Cost of sales plus profit is _______.

selling price

value of finished product

value of goods produced

value of stocks

Detailed SolutionCost of sales plus profit is _______.

39. Departmentalization of overhead is known as ________.

primary distribution

secondary distribution

absorption

allocation

Detailed SolutionDepartmentalization of overhead is known as ________.

40. The basis for the payment of cash by contractee under contract is ________.

work certified

work uncertified

contract cost

value of plant used in the contract

Detailed SolutionThe basis for the payment of cash by contractee under contract is ________.

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